Mayor Ed Lee officially wants the 2017 America's Cup to be held in San Francisco, but is seeking a more concentrated and focused event.

In a letter to regatta organizers Monday that formally listed the city's proposed venues if it hosts the 35th iteration of sailing's premier competition, Lee said he wants the viewing areas and other public spots closer together, with the various races held in a shorter time period.

Races - including a slew of uncompetitive ones in the early going - were spread out over almost three months when San Francisco hosted the Cup this year. Public venues also stretched along the waterfront from the edge of the Marina to Piers 30/32 south of the Bay Bridge.

Having a more focused event will help the city rein in costs after it lost at least $5.5 million from hosting the regatta the first time around, even though backers say the event generated $550 million in total economic impact for San Francisco.

Negotiations "must build from and cultivate the successes of the past event, while at the same time take account of better ways to capitalize on previously missed opportunities," Lee wrote to Russell Coutts, the CEO of software billionaire Larry Ellison's Oracle Team USA.

By virtue of winning this year's Cup, Ellison's racing syndicate, sponsored by San Francisco's Golden Gate Yacht Club, gets to name the location of the next regatta.

Coutts wants to confirm the host venue and announce the rules for the 35th America's Cup by March 1, according to Lee's letter. If the last talks to bring the Cup to San Francisco are a barometer, that means two months of intense negotiations.

The city is proposing once again to have an America's Cup Park at Piers 27/29, and also shifting team bases to that site from Piers 30/32, which Lee hopes at that point will be a busy construction zone for a proposed Golden State Warriors arena. Marina Green would again be used for spectators and concessions. A portion of Pier 80, which Oracle used as its base last time, would also be used for some team bases this time around, but it would not be open to the public.

Unlike the original deal the city struck to host this year's regatta, the current proposal does not include any plans for long-term development rights. That deal ended up being scrapped in favor of a simpler event-hosting agreement.

"Everyone saw what a great arena San Francisco Bay was for the racing this summer, and I hope we'll soon see an arrangement that brings us back to San Francisco as soon as possible," Ben Ainslie, a member of the winning Oracle Team USA crew who is now trying line to up a British team to compete for the next Cup, said in a statement.

Iain Murray, the regatta director this year and now the CEO of Team Australia, the challenger of record for the next contest, agreed.

"We all saw what a fantastic venue San Francisco was for the racing this summer," Murray said in a statement released by regatta organizers. "The conditions, the natural amphitheater and the enthusiasm of the people made for one of the best America's Cups ever."